Will Thailand's New Visa Scheme Improve Its Economy?
IQI Global
IQI is Asia's largest real estate & investment advisory firm, and the member of Juwai IQI.
Thailand has begun accepting applications for the Long-term Resident (LTR) visa scheme, which aims to attract 1 million wealthy foreign nationals to Thailand over the next five years to contribute 1 trillion baht (US$27 billion) to the economy.
Analysts, however, are questioning whether or not this move will substantially improve the Thai economy.
Kashif Ansari, Juwai IQI's Group Co-Founder and CEO says:
"We have no doubt Thailand is right for enough applicants to achieve its investment and economic goals.”
Despite regional neighbours competing to lure high-net-worth individuals as part of their post-Covid economic recovery, Thailand’s visa scheme was “in a class of its own” as it was substantially different from those offered by other countries, Juwai group’s Kashif said.
Eligible applicants for the wealthy global citizens group need to hold US$1 million in assets, an annual income of at least US$80,000 per year and a minimum US$500,000 investment in Thailand.
Do you think that this visa scheme will contribute towards the economy's growth post-Covid? Let us know your thoughts in the comments.
Read more about it here.